Facebook Inc (FB) “On a long-term technical basis, the stock (FB) is trading above its 200-day moving average which implies it is in a positive trend. However, the stock has broken through an important trendline at 180.31 suggesting the next level of support is 179.34. The long-term uptrend has now turned neutral.

The stock has support at 179.34 and 166.79. If the stock breaks down through support at 179.34 then it will probably continue lower to 166.79. The stock will meet resistance at 180.31 and 191.36. If the stock breaks up through resistance at 180.31 then it will probably continue higher to 191.36. The 200-day moving average is at 175.37. This will also act as support. If the stock closes below 166.79 a negative trend change is probable. Look for the stock to fall to the level where it started prior to the latest big upmove. The stock is extremely oversold according to the Stochastic Indicator (18.62).”